Hammerson profit up 22%, confident for future

SarahTurner

LONDON (MarketWatch) -- Property firm Hammerson
HMSO, -0.28%
said Tuesday that its first-half adjusted pretax profit rose 22.3% to 54.8 million pounds, after net rental income increased 26.5% to 138.3 million pounds. Rental income was boosted by lettings, asset management initiatives, rent reviews, indexation of rent from leases in France and development completions, the firm said. It added that it's confident about its future. Separately, Hammerson also exchanged contracts to acquire an interest in Grand Maine, a shopping centre in Angers, Maine et Loire, for 44 million euros from Locasic.

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